OUR FLOURISHING ECONOMY  12:59 pm July 29, 2011

Just In Time For U.S. Default, U.S. Recession Gets Much Worse

by Wonkette Jr.

Uhh ...While the Republicans try to force a default of the American Nation with such tactics as “scholarship grants are for communists,” the Democrats are engaged in an exciting game of catch-up. “Oh,” Obama might say, looking thoughtfully at his hands, “Pell Grants are communist? Well then, I offer a compromise of shutting down Medicare and turning our National Parks into private endangered-species hunting camps run by Ted Nugent. What else can we do?” Meanwhile, the U.S. Economy is rolling along — rolling down, fast. Turns out the 2008-2009 recession was far worse than economists could comprehend at the time, even though it was very clear to actual working people that we had plunged into a long and perhaps permanent downturn. And while economists are still pretending the “recovery” is something real and not just more double-your-money fun for America’s millionaires and billionaires, they’re finally admitting that once they fudge their numbers another percent, we’re actually already in a second recession.

Reuters has this happy report:

The report also showed the current slowdown began earlier and has been deeper than previously thought, with growth in the first quarter advancing at only a 0.4 percent annual pace.

The data indicated the economy began slowing in the fourth quarter of last year before high gasoline prices and supply chain disruptions from Japan’s earthquake had hit, suggesting the weakness is more fundamental and less temporary than economists had believed.

So, uh, things are going to get a lot worse, and they were worse than we previously thought, and this whole Default/No Government Spending thing is probably going to reduce most Americans to eating each other’s poop. [Reuters]

 

Hola wonkerados.

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{ 160 comments }

Barb July 29, 2011 at 1:03 pm

"….this whole Default/No Government Spending thing is probably going to reduce most Americans to eating each other’s poop.'
Looks like the teabaggers started early. They are all full of shit.

Rotundo_ July 29, 2011 at 1:16 pm

The Japanese already figured out how to produce fecesburgers, with all the demand for cheap food I'm figuring the dollar menu at Mickey D's will feature a strong poop component soon, if it doesn't already.

freakishlywrong July 29, 2011 at 1:20 pm

Two. Two upfisty for you. You managed to thread the famous Wonkett poop meme and double it back to truth telling about 'baggers. Skillz.

James Michael Curley July 29, 2011 at 1:36 pm

So what happens if I loose two digits in my worth today due to the GOB (Great Orange Boner) idiotcy?

GhostBuggy July 29, 2011 at 1:39 pm

Soylent Brown.

Chet Kincaid July 29, 2011 at 2:20 pm

Nice.

LiveToServeYa July 29, 2011 at 3:25 pm

SOYLENT BROWN IS POOPLE!

johnnyzhivago July 29, 2011 at 1:03 pm

Tonight on FOX, don't miss the exciting season opener: America's Got Problems!

FidoMcCokefiend July 29, 2011 at 1:10 pm

But a witch ain't one of them. I mean really, can you imagine if O'Donnell had been elected?

GOPCrusher July 29, 2011 at 3:24 pm

Michele Bachmann was bad enough. She has been running around Iowa for the last few days, telling anyone that will listen that she will not vote for anything. Republiklan or Democratic. Because they all have the words "Raise the debt ceiling" in it.
She honestly believes, that if the U.S. does not raise the debt ceiling, absolutely nothing will happen. All the warning by credit rating agencies, economists, the FED, the stock market, etc. are just a ploy by President Obama to raise taxes and spend more money.

Swampgas_Man July 29, 2011 at 1:29 pm

All the fun of Bread 'N' Circuses, without the bread. And the "Circus" is a half-dead lion, also.

Madfall July 29, 2011 at 1:03 pm

But look on the bright side, everyone will lose weight and look fabulous.

KenLayIsAlive July 29, 2011 at 2:16 pm

Somali-chic it is called.

Nah. That didn't feel good at all.

ifthethunderdontgetya July 29, 2011 at 1:04 pm

You know who else cut spending during a time of high unemployment?

That's right…
~

gullywompr July 29, 2011 at 1:05 pm

Me?

Callyson July 29, 2011 at 1:07 pm

Milton Friedman?

MistaEko July 29, 2011 at 1:07 pm

The Los Angeles Dodgers?

inapewetrust July 29, 2011 at 1:08 pm

Frank Stallone

Doktor Zoom July 29, 2011 at 1:09 pm

FDR, in 1936, just when the New Deal was starting to improve things?

weejee July 29, 2011 at 1:10 pm

The Weimar Republic?

Ruhe July 29, 2011 at 1:12 pm

Ubu Roi?

horsedreamer_1 July 29, 2011 at 1:20 pm

Ben Bernanke?

MinAgain July 29, 2011 at 1:27 pm

Great (more or less) Britain?

spinozasgod July 29, 2011 at 1:39 pm

Japan?

mumbly_joe July 29, 2011 at 1:47 pm

Herbert Hoover?

lochnessmonster July 29, 2011 at 1:05 pm

So he said to me "Cheer up, things could be worse". So cheered up and sure enough, things got worse!

Goonemeritus July 29, 2011 at 1:06 pm

Don’t worry now that the House has flipped Republican I think we can all agree the economy is sure to respond.

GOPCrusher July 29, 2011 at 3:29 pm

Those ten years of Bush Tax Cuts will pay off any day now.

iburl July 29, 2011 at 9:54 pm

That's right, all those job creators have some awesome plans for us!

mormos July 29, 2011 at 1:06 pm

Welcome to America’s very own lost decade! Japan says hi.

Fukui_sanYesOta July 29, 2011 at 1:09 pm

Sadly, I think this might well be the case.

philpjfry July 29, 2011 at 1:16 pm

I would feel better if I thought it would only be a decade

user-of-owls July 29, 2011 at 1:24 pm

If we are very lucky, we might get Japan's Lost Decade. If not, we're looking at our very own Década Perdida.

And that, my friends, is suffering beyond comprehension.

Fukui_sanYesOta July 29, 2011 at 1:26 pm

After the petroleum boom previous to the government of Mexican president José López Portillo (from 1976 to 1982), Mexican government began to rely heavily on export barrels to support the financial needs in the country.

lolz. exports. we wish.

edit: can we sell facebook and twatter to the chinese and keep the cash?

user-of-owls July 29, 2011 at 1:38 pm

I have spoken with many survivors, from Argentina, to Bolivia, to Mexico and elsewhere. Their stories would chill your blood; there ten or more years of genuine, diagnosable mass psychosis induced primarily by hyperinflation. It made sensible people to grasp ideas they would normally dismiss as insane.

One example: A very respected Argentine intellectual explained in all sincerity his plan for how his nation could survive. It was to completely seal off the country, no people or goods coming in or going in or out. Then they would eat all there cows. He was dead serious.

Fukui_sanYesOta July 29, 2011 at 1:58 pm

The spectre of possible hyperinflation is waiting in the wings here. A truly horrific prospect for everyone who doesn't have their cash already stashed in a Cayman's bank account denominated in euros.

I pray (as much as an atheist can) that I never see it happen in the US.

V572 Hair of Destiny July 29, 2011 at 1:54 pm

We don't have any oil to export, but we could probably sell some barrels. Odd writing in that wiki.

Swampgas_Man July 29, 2011 at 1:32 pm

Wish we could get a few dogs to defend the dollar.

mormos July 29, 2011 at 8:51 pm

this is really scary, because the fed is actually already artificially causing currency inflation. We are in the middle of a recession, and we should be experiencing deflation, and the markets are tending towards deflation of the dollar, but American economists see inflation as universally bad, so the fed is printing money to cause the aforementioned inflation. (and we bitch at china for manipulating their currency…)

johnnyzhivago July 29, 2011 at 1:06 pm

My Federal Government default plan is looking better than ever: just send out bad checks, skip town and give a phony forwarding address.

user-of-owls July 29, 2011 at 1:40 pm

Can we use Luxembourg as the phony address? I've always had a gripe with them.

Of course the more sensible approach would be to direct would-be collectors to Afghanistan. Sort of two birds, one stone deal, no?

DahBoner July 29, 2011 at 1:06 pm

"What else can we do?"

1. Tax breaks for corporations that create jobs (after the jobs are created).

2. Massive tax increases for corporations that outsource jobs.

3. Raise taxes on anyone making over $1 million a year.

4. Eliminate corporate deductions. Flat tax for all corporations–no more freeloaders!

5. Pull out of all "Free Trade" agreements. Go back to pre-1981 tarrifs. Build America's industrial base.

6. Make it a felony for any Republican to lie under oath of office.

Fukui_sanYesOta July 29, 2011 at 1:10 pm

Whilst I agree with most of your points,

5. Pull out of all "Free Trade" agreements. Go back to pre-1981 tarrifs. Build America's industrial base.

protectionism is bullshit and will knacker the economy even more

DahBoner July 29, 2011 at 1:22 pm

Prior to 1981, The US was the World's Largest Exporter and we had tarrifs, just like every other industrial nation has, all throughout history.

If being the world's largest exporter is "bullshit", I say it's time we go back to "bullshit" and abandon the "serious" Free Trade…

…bull shit.

Fukui_sanYesOta July 29, 2011 at 1:32 pm

Prior to 1981, we didn't have Saint Reagan (pbuh) and the modern cult of supply-side. To claim tariffs are the sole protector of American industry is, well, a little daft, imho.

As a counterexample, may I put forward Germany? Big social safety net, decent healthcare and a fantastic export economy even in these dark days. No tariffs. Why? Because they make products that other countries want, mostly utilizing home-grown expertise from their (state-run) education system.

edit: ooh, I just looked it up. Germany out-exports the US. Germany.

DahBoner July 29, 2011 at 1:52 pm

Every industrial nation all throughout history has tarrifs.

Including Germany. http://ec.europa.eu/taxation_customs/dds2/taric/t

DahBoner July 29, 2011 at 1:55 pm

"Germany out-exports the US."

Because Germany has tarrifs to protect their industrial base and hasn't gone down the insane road of "Free Trade"?

Good point!

baconzgood July 29, 2011 at 1:12 pm

COMMIE!!!!!!

freakishlywrong July 29, 2011 at 1:23 pm

6. Make it a felony for any Republican to lie under oath of run for office.

I like mine better.

Fukui_sanYesOta July 29, 2011 at 1:33 pm

Constitutional amendment right there.

V572 Hair of Destiny July 29, 2011 at 1:39 pm

You're not thinking about all the tax accountants and lobbyists that will be thrown out of work by your job-destroying program of tax increases. This is why we have to leave these important decisions to those who understand all the nuances — you know: Goldman Sachs.

jus_wonderin July 29, 2011 at 1:06 pm

Hmmmm, maybe I can make a killing in the stock market again when the f'n bottom drops out.

Poindexter718 July 29, 2011 at 1:07 pm

Nuttin' that a balanced budget amendment won't fix.

Fukui_sanYesOta July 29, 2011 at 1:07 pm

Hey, I've got a great idea! If the economy is utterly fucked and people are out of work, let's gut any kind of social safety net! That'll work, right?

tihond July 29, 2011 at 1:10 pm

It worked well for… *consulting my notes*…. Umm, we'll get back to you on that.

Fukui_sanYesOta July 29, 2011 at 1:13 pm

… getting pig-ignorant teabaggers elected?

edgydrifter July 29, 2011 at 1:07 pm

The US economy has turned into a continuous-loop crotch-punch video. Good lulz for anyone with a password to plutocrats.com.

jus_wonderin July 29, 2011 at 1:09 pm

America's Funniest Catastrophes

Doktor Zoom July 29, 2011 at 1:12 pm

Ow! My Fiscal Balls!

weejee July 29, 2011 at 1:13 pm

The Kochsuckers are promising an animated gif in every pot.

V572 Hair of Destiny July 29, 2011 at 1:40 pm
johnnyzhivago July 29, 2011 at 1:08 pm

We may all be starving, but at least we have Angry Birds!

jus_wonderin July 29, 2011 at 1:17 pm

I have an idea that we should be playing/practicing with "Postal" or "DooM".

AJWjr. July 29, 2011 at 5:13 pm

Well, that pigeon I had for dinner last night appeared more afraid than angry.

inapewetrust July 29, 2011 at 1:08 pm

this calls for a corporate tax holiday!!!

KathrynSane July 29, 2011 at 1:08 pm

You know that feeling when you're on top of a tall building or a bridge or something and as much as you know the fall would hurt/disfigure/kill you, part of you kinda wants to jump just for the hell of it, just to see what happens? That's pretty much how I feel about the debt ceiling.

SayItWithWookies July 29, 2011 at 1:25 pm

You know, just because it says "Cape does not enable wearer to fly," that doesn't mean they've actually tried it. Why, I'll bet if I get a running start and flap my arms really hard…

Doktor Zoom July 29, 2011 at 1:46 pm

"You know that feeling when you're leaning back in a chair, and then you lean back too far and start to fall and just at the last second you catch yourself? I feel like that all the time."

Steven Wright

And me, listening to the news.

Chet Kincaid July 29, 2011 at 2:35 pm

As I said a couple of weeks ago, default is the only way the American People will learn a goddamned thing.

starfanglednut July 31, 2011 at 7:16 pm

I know. A big part of me wishes we could give the baggers control, watch them ruin the country, and then say, "OK, now will you please, please shut the fuck up and go away while we try to fix things?"

Biel_ze_Bubba July 29, 2011 at 4:03 pm

I think that feeling is supposed to fade as you get closer to adulthood. Too bad the baggers elected a bunch of retards with 12-year-old minds.

BlueMonkeh July 29, 2011 at 1:08 pm

I think I'm now at peace with this. Nothing is ever going to get any better, ever.

It's good my parents didn't have the interwebs to read back in the 80's when St. Reagan (pbuh) was trying to permanently drive the country into the shitter. They might have been full of despair, or something, instead of just nicotine and alcohol.

baconzgood July 29, 2011 at 1:09 pm

This is good newz for the Hobo Bean industry.

weejee July 29, 2011 at 1:17 pm

And the weenies are gathered in Boehner's office.

tihond July 29, 2011 at 1:19 pm

Bindlestiff stock is going up, up, up.

Biel_ze_Bubba July 29, 2011 at 4:04 pm

You think so? Just wait 'till there are no more Messicans to pick the beans.

MistaEko July 29, 2011 at 1:09 pm

This calls for drastic cuts in government spending. It's not like government spending is the first motherfucking variable in the equation for GDP or anything.

FidoMcCokefiend July 29, 2011 at 1:09 pm

Surely this is due to all those taxes that leftist 0bama raised, right?

***you say taxes weren't raised?***

It's them damn college hippies sucking off the teat of our society!

Callyson July 29, 2011 at 1:10 pm

Since this great nation is regressing at a rapid fire pace…
In the words of the late great Gil Scott – Heron:
Why wait till 1984? You can panic now, and avoid the rush…
Gil Scott Heron- B-Movie http://www.youtube.com/watch?v=XKQd_Ixm-jQ

Mumbletypeg July 29, 2011 at 1:38 pm

re Gil Scott Heron: They played one of my favorite songs of his at the conclusion of the latest True Blood episode — I was totally unprepared for it, I nearly went into mourning for him all over again.

tihond July 29, 2011 at 1:11 pm

I'm not worried, I've got all my money invested in gold and fascist uniform futures.

Atlas Frooged July 29, 2011 at 1:29 pm

If only these cretins had the taste of yesteryear's fascists. I hope for your sake these are American flag jumpsuits or XXXXL heather gray tees with eagles and shit all over them, and matching sweatpants.

Ruhe July 29, 2011 at 1:11 pm

The nation is being lead/pushed by a group that actually wants the apocalypse. Ah, it reminds me of the heady days of the early eighties when the clock was perpetually at six till midnight and the guys in charge were secretly entertaining the idea that perhaps a little nuclear armageddon was what the world really needed, just to clean things up a bit with some purifying nucular fire.

fuflans July 29, 2011 at 1:12 pm

i posted this economist cartoon on another thread:
http://www.economist.com/node/21524951

too bad our own press doesn't bother to point this shit out.

Atlas Frooged July 29, 2011 at 1:30 pm

I missed that one, but unfortunately it's all too accurate.

V572 Hair of Destiny July 29, 2011 at 1:41 pm

Wow. Remember when we had good political cartoonists in this country, instead of, say, Steve Breen?

Pres.Beeblebrox July 29, 2011 at 1:44 pm

Nice to see a news website where the comments are not full of racist or classist mouthbreathing Bagger platitudes.

Ruhe July 29, 2011 at 2:16 pm

beautiful. thanks.

Biel_ze_Bubba July 29, 2011 at 4:08 pm

A bunch of Xtian pro-armageddon loons with their fingers on the nuclear button … what could possibly go wrong?

Rotundo_ July 29, 2011 at 1:11 pm

Ah yes, quibbling and pissing about commie PELL grants while the Jenga blocks of our country are a tumbling down. I wonder if it has ever occurred to any of these assholes that if they torpedo the economy much more that any victory they have will be pyrrhic in nature 'cause all the locals are going to be bearing shotguns, pitchforks and torches to the inaugurals when they take office (after the rigged by Diebold "election").

Swampgas_Man July 29, 2011 at 1:35 pm

In the future, inaugurals and all Gummint functions will be held in "gated" communities.

Biel_ze_Bubba July 29, 2011 at 4:11 pm

The shotgun, pitchfork and torch crowd is precisely the people who will put those assholes in power. And they'll find some ethnic group to blame for all our troubles. (Tell me if this sounds familiar.)

tihond July 29, 2011 at 1:11 pm

Sarah Palin just liked this news on facebook.

Ducksworthy July 29, 2011 at 1:12 pm

i seem to recall this whole teabag movement starting as the brainchild of some ranting wall street trader. And we all know they have our best interests at heart.

DerrickWildcat July 29, 2011 at 1:12 pm

This is good news because everything will become cheaper so that we can afford it.

genxr July 29, 2011 at 1:26 pm

Times are good if you're rich, live in a gated community, have a CCW permit, drive an armored car, and have no interest whatsoever in visiting a country with an unfavorable currency exchange rate.

Mumbletypeg July 29, 2011 at 1:13 pm

And while economists are still pretending the “recovery” is something real …they’re finally admitting ..we’re actually already in a second recession.

What a dry idea idiocracy you math-flogging toadies are!? Your only concern is that you never let em see you sweat the numbers.

baconzgood July 29, 2011 at 1:15 pm

I think we as americans have to sit down and have a serious talk about the staggering unemployment, if the tax cuts are really helping, national default and this recession…..LOOK OVER THERE! A CUTE PUPPY.

Doktor Zoom July 29, 2011 at 1:41 pm

You mean THIS cute puppy?

Biel_ze_Bubba July 29, 2011 at 4:13 pm

More like LOOK OVER THERE, ANOTHER POLITICIAN DICK-TWIT.

ManchuCandidate July 29, 2011 at 1:16 pm

Those tax cuts to the wealthy are really working out. Better than building roads or dams or a new electrical grid.

Fucking supply siders.

Fukui_sanYesOta July 29, 2011 at 1:19 pm

If Milton Friedman were still alive he should be brought to the Jefferson Memorial for people to line up and hoof him in the balls.

PuckStopsHere July 29, 2011 at 2:24 pm

Just dig his dead ass up. I'll be happy to kick him in the balls anyway.

Fukui_sanYesOta July 29, 2011 at 3:57 pm

Shit, I'd pay for that. You're on to something there.

fuflans July 29, 2011 at 1:16 pm

well, i know i personally have always wanted to emulate mogadishu's clean spare government.

Pres.Beeblebrox July 29, 2011 at 1:46 pm

Right, and there's a lot of money to be made in piracy too. Just buy a skiff, pack some heat, and hijack the next Panamax tanker you see. Win!

Biel_ze_Bubba July 29, 2011 at 4:14 pm

Mmmmmmm … low taxes! And those job-creatin' pirates are model capitalists.

JoshuaNorton July 29, 2011 at 1:16 pm

Just what we need. A bunch of Bachmann worshipers who can’t tell the difference between Soviet Communism and a Stafford loan telling us what to do.

Doktor Zoom July 29, 2011 at 1:18 pm

At the risk of seeming like one of those crazy loons who thinks a single document needs to be seen by everyone, I really think that this document needs to be seen by everyone: The Chart That Should Accompany All Discussions of the Debt Ceiling.

Honestly, I don't want to be all spammy or anything; if y'all think I should stop posting this, lemme know.

By the way, have you SEEN that chart? Jesus.

jus_wonderin July 29, 2011 at 1:23 pm

Thanks! Not spammy to me at all.

calibrit July 29, 2011 at 1:41 pm

Facts::teabaggers = sunlight::the blind.

Fukui_sanYesOta July 29, 2011 at 1:42 pm

Keep doing it. It's knowledge which should be disseminated. Anathema to FOX-watching cretins.

Biel_ze_Bubba July 29, 2011 at 4:17 pm

Delivering knowledge to Fox-watching cretins? Talk about pearls before swine!

V572 Hair of Destiny July 29, 2011 at 1:43 pm

Keep bringin' it. Put it on Red State.

widestanceroman July 29, 2011 at 1:46 pm

Every member of Congress should be forced, on pain of death, to wear this as a t-shirt for the rest of their term.

donner_froh July 29, 2011 at 1:50 pm

Fallows is a straight shooter and his point, that it isn't an an attempt to find who to blame but an intellectual exercise–look at how the deficit was created and think about how to deal with those specific issues–is important.

But it will be ignored because cutting taxes for the wealthy is what we do now.

PalinPussyPower July 29, 2011 at 1:19 pm

Someone find Joe the Plumber. He'll know what to do.

Chet Kincaid July 29, 2011 at 2:46 pm

Muffled guffaw.

user-of-owls July 29, 2011 at 1:20 pm

You know how after some totalitarian dictator dies, those in charge don't announce his death right away? Instead, all the radio stations start playing dirges and the only thing on TV is an endless loop of the leader's great speeches, visits to Tractor Factory #47, and other video homages. Conjuring up the collective essence of the brute for the people to prepare them for the eventual announcement.

Reading these soul-crushing posts is starting to give me that vibe. So I guess my question is, did Ken Layne slip this mortal coil?

philpjfry July 29, 2011 at 1:21 pm

The worst part of all this is no one will learn anything. When all the things the democrats and other sane people are saying come to pass, the tebaggers won't accept responsibility and actualy admit they were wrong. They will find some way to blame Barry and say, ala Uncle Joe Stalin, "If we had cut more it would have worked." Shameless, kochsucking, arrogant, shortsighted, mean spirited, ignorant, self rightous, evil motherfuckers.

Fukui_sanYesOta July 29, 2011 at 1:48 pm

Señor fry, it's a bit complicated for the electorate to understand. What's happening is an ideological battle over economics, I think – it's Friedman/von Mises vs Keynes. Naturally, that's a bit high-falutin' for most of these fucking asswits in the teabag caucus who got elected on platforms whereby they scream "it's my money!" or "jerbs!", but I believe it's the essence of the ideology. To shorten what could have been a long rant – cuts in government and lowering taxes are Friedman, social safety nets and government stimulus are Keynes.

Biel_ze_Bubba July 29, 2011 at 4:20 pm

All you need is self-righteous and ignorant … the rest is irrelevant (although it does provide a convenient handle for the demagogues.)

fuflans July 29, 2011 at 1:24 pm

what's the 'end of the economy' drinking game and when does it start?

pinkocommi July 29, 2011 at 1:25 pm

Remember, if we are not all homeless, job-less, uninsured, uneducated-because-we-can't-afford-college poors, the communists win.

iburl July 29, 2011 at 1:26 pm

If I have to eat poop, can I eat Rush Limbaugh's? I heard he eats a lot of steak, viagra, and oxycontin.

genxr July 29, 2011 at 1:44 pm

You'll have to get in line behind his millions of listeners.

Chet Kincaid July 29, 2011 at 2:49 pm

Shittoheads.

ShaveTheWhales July 29, 2011 at 3:36 pm

Can I steal that mmplz?

Chet Kincaid July 29, 2011 at 5:01 pm

It would be an honor!

freakishlywrong July 29, 2011 at 1:47 pm

The teatardies have first dibs.

deanbooth July 29, 2011 at 1:28 pm

reduce most Americans to eating each other’s poop

Unfortunately, the worst tasting poop is poop from people who eat poop.

Doktor Zoom July 29, 2011 at 1:29 pm

Metapoop, you mean?

MinAgain July 29, 2011 at 1:29 pm

And the price of gold just went up again. Although, to my mind, cans of hobo beans would be a better hedge against the coming economic cataclysm.

DemonicRage July 29, 2011 at 1:30 pm

There won't be any second Recession. The Chinese will call in their debts and the US will be broken up and shared like a ripe seasonal berry pie,by the surviving powerful economies of the world. All of this is fortold in Gary Shteyngardt's Very Sad True Love Story, which was marketed as fiction but which is the new Nostradamus, when it comes to accurately predicting what was WRITTEN IN THE STARS.

vulpes82 July 29, 2011 at 1:47 pm

China's desperately trying to keep inflation from eating them alive. And if we American Lard-Sacks start buying even less Chinese Wal-Mart crap, they're up shit's creek. Also, as much debt as they own, most of it is actually owned by Americans. It's just fear-mongering that makes everyone pretend they're going to foreclose on us or something.

(Sorry, but the China stuff just gets me.)

Biel_ze_Bubba July 29, 2011 at 4:23 pm

China can't afford to have US bonds tank… they'll do whatever it takes (and no more) to prevent it.

DashboardBuddha July 29, 2011 at 1:32 pm

"eating each other’s poop."

10 billion flies can't be wrong.

Sigh

HelmutNewton July 29, 2011 at 1:34 pm

The funny (sad) part of all this is that no one even bothers to ask the cursed teabaggers anymore how throwing millions more Americans out of work and engorging the already swollen bank accounts of the ultra-wealthy is going to "create jobs" and "grow the economy".

Ruhe July 29, 2011 at 2:24 pm

I am, luckily I suppose, employed in an industry that serves almost exclusively wealthy clients (no, I'm not a five diamond whore) and I have to say that I don't think they could spend their money any faster even if they had more of it. They're buying shit like crazy, like nothing ever happened or ever will, like it's all good. So, yeah, you can say that lower taxes on the rich stimulates the economy but in the real world the bastards are working their fingers to the bone spending their cash and it isn't helping anyone to get a job.

Fukui_sanYesOta July 29, 2011 at 4:01 pm

Bingo, and this is why supply-side is horseshit.

Biel_ze_Bubba July 29, 2011 at 4:27 pm

They can buy all the shit they want, but they aren't going to buy enough Fords and Chevys to make a difference — and their plasma TVs and iPads are all made in China. The only jobs they create are for maids, chauffeurs, and pool boys.

calibrit July 29, 2011 at 1:39 pm

On the bright side though guys! At least white Republicans will get to rule the crushed and pathetic remnant of what we used to call the US economy again!

I don't know about you, but that makes me feel heaps better. Sometimes you can't make an omelet without breaking eggs, know what I mean?

BklynIlluminati July 29, 2011 at 1:41 pm

I see the whole Republican/Teatard plan just moving swimmingly along

randcoolcatdaddy July 29, 2011 at 1:44 pm

"On tonight's episode of "I, Obamvius", the Senate devolves into chaos as roaming bands of bandits set the city on fire. Meanwhile, in the Coliseum, most of the citizenry distracts itself with bare-breasted nymphs and bloody displays of combat between gladiators wearing so-called TruckNutz…"

donner_froh July 29, 2011 at 1:44 pm

Given difficulties that many here (including me on some issues) have with the President, he never really had a chance with the economy. The only way the federal government could have cushioned the hammer blows of unemployment, high energy prices and collapse of the housing market would have been to go with a much larger stimulus, simply pump money into the economy to create jobs. The stimulus that was passed–which the President probably thought was all he could get–was much too small.

Fukui_sanYesOta July 29, 2011 at 4:09 pm

As I said in an earlier post to fry which gotten ate by this software, it's a war of ideology, economic ideology.

You're talking Keynes. They talk Friedman/von Mises. Keynes provably works, and I'd argue that Friedman provably doesn't. Naturally this discussion would be over the head of most of the tabagger caucus, who find it politically beneficial to yell "TOO MANY TAXES" or "BIG GOVERNMENT" or whatever shit is the poo-fling of the day.

Unfortunately the ultimate directors of the economy, the electorate, are often stupefyingly pig-ignorant fuckwits who listen to rallying calls of blatant nonsense.

GhostBuggy July 29, 2011 at 1:48 pm

So, zombie apocalypse anyone?

prommie July 29, 2011 at 2:01 pm

Cannibal anarchy.

Smitros July 29, 2011 at 2:25 pm

I think we do poorly to dwell on best-case scenarios.

cheetojeebus July 29, 2011 at 1:56 pm

I think i'll stay with the paleo diet. Scrapping out skull caps and cracking bones for marrow seems just a tad more appetizing. A sprinkle of cumin, a little black pepper and some nice crunchy sea salt…Plus the chance of ingesting some prion virus that will render me free of any consciousness has it's appeal as well.

gvvt July 29, 2011 at 2:12 pm

!!Meme Alert!! The plutocrats formerly known as "Rich" are now "Job Providers" which is short for "Free-Enterprise Job Providers." In addition: the unavailability of these provided jobs is the result of left-wing desires to raise taxes on America's patriotic FEJPs.

Pete Sessions (R-NoTaxes)

Ruhe July 29, 2011 at 2:29 pm

Seriously? That sounds a little bit like a new religion doesn't it? Let's try a thought experiment: "We should be grateful for what the Job Providers hath provided us, so no new taxes." Now this: "We should be grateful for Baal hath provided us, so throw your babies in the fire." Yeah, that works.

DashboardBuddha July 29, 2011 at 2:38 pm

Mmmmm, this cake is so moist and job provider!

(Hat tip to Jon Stewart)

DashboardBuddha July 29, 2011 at 2:33 pm

I can take some comfort in knowing that I get out of work in 2 hours, I still have a job (banging on a fucking tree right now), my woman is coming down to see me tomorrow, and I have a full bottle of scotch.

This is my life. It could be worse I guess. It will probably get worse, but I'll kick that republican in the balls when I get there.

Buckminster July 29, 2011 at 5:36 pm

Dopey Rehberg has got to be the biggest piece of poop Montana has ever sent to Washington.

AJWjr. July 29, 2011 at 6:06 pm

After Hillz poked a million cracks into this damned debt ceiling, I thought $arah would come along and just make it collapse of it's own weight.

ttommyunger July 30, 2011 at 2:28 pm

Funny, I remember the Repugs and Tea Baggers running for office on Jobs and the Economy. Don't see that working out for us…

Fukui_sanYesOta July 29, 2011 at 2:06 pm

Look, I understand what you're saying. This is a discussion, not an argument. Hell, personally I'd love to see American manufacturing come back. It's just that tariffs don't seem to be the way, imho. Germany has a lot of exports within the EU (I can't find the exact figures just now) which is a total free-trade area.

You start slapping tariffs on stuff and you fuck the US because other countries will do the same thing. Fuck, look at the damn trade deficit! What, is the idea to hunker down and rebuild steel production or car manufacturing because imports are too expensive? Think about that for a moment, and consider the longer-term world competitiveness implications. As much as anyone hates it, I'll trot out the Global Economy thing. The US isn't an island in a sea of countries.

We don't fundamentally disagree. I'd love to see US manufacturing come back, but I simply don't see tariffs as a way of achieving that goal.

DahBoner July 29, 2011 at 2:15 pm

"Germany has a lot of exports within the EU (I can't find the exact figures just now) which is a total free-trade area."

Many US states have "exports" to other US states, which is a "total free trade area".

However, the facts, as I stated, still stand:

Every industrial nation all throughout history, including Germany, including a collection of countries called the "EU", has tarrifs to protect their industrial base against cheap imports.

Every country, including the US before 1981.

You can't argue against over 200 years of rational trade policy by saying it's "bullshit"…

Fukui_sanYesOta July 29, 2011 at 3:49 pm

You can't argue against over 200 years of rational trade policy by saying it's "bullshit"…

I did, speciously, then elaborated on it when called.

Shall we just agree to disagree? It seems the most sensible way to end it.

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